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My mom has taught me a lot in life. I am privileged to say that my mom is my best friend. My mom didn’t just teach me about boys and being a lady, she taught me a lot about money. It’s not just what she told me but also what I observed growing up. Is my mom a big investor? No. Does she have billions of dollars and travel the world? No. But she is one of the happiest, and financially secure, person, I have ever met! Here are the money lessons I learned from my mom.

Start Saving For Retirement Early

“If you don’t see it, you won’t miss it.” The first words my mother said to me when I asked her about a 401(k). I knew nothing about retirement, especially 401(k) when I graduated from college. As I am drowning in the benefits package for my new job, my mom was there to help navigate.

My company had a 401(k) match which I signed up to get the full match amount. My mom was right! Contributing to a 401(k) was easy because I never expected that money. Heck…I never saw it so I didn’t miss it. I have been contributing to a 401(k) for over 10 years now and that account is well into the six figures. My retirement account is projected to be over $2 MILLION by the time I retire. Thanks, mom!

You Only Live Once

My mom was never a “big” spender. I mean, she never bought expensive things like Coach Purses or Versace sunglasses but she did buy the little things that made her happy like favorite meals and outings for us. Some of my best memories were the spontaneous days where we didn’t plan anything but did everything! Not sure if it was in her budget but it was fun to get out and live a little.

Although this may not seem life-changing, my parents divorced when I was 7 so my mom was a single mother. She only had one income in a high cost of living area (Alaska…yes, born and raised in Alaska). We should have been on a strict budget but we always had a roof over our head, food on the table, clothes on our back, and more. I must say, because of our spontaneous days I have learned not to sweat the small stuff.

Giving is Important Too

Although my mom was a single mom living on only her income, she still made sure to donate to charity. Shout out to her favorite charity, United Way! Not only does my mom give money to charity, but she also gives her time. She participates in various fundraising events for United Way. Watching this growing up has taught me that the world was so much bigger than me and it feels good to help others.

I am thankful for the money lessons my mom has taught me. Watching her has molded my financial views today. Now, I am on my way to a great retirement, enjoy my kids/life, and give with a happy heart. Thanks, mom.

What money lessons have you learned from your mom?